Prior to June 1st 2024, the policy was: “Private aircraft may not be used for business travel.”
The Executive Travel and Expense policy now has an entire section that allows all EC members to charter private aircraft, provided that:
Seems like the rumors of the CEO using a private jet were not exaggerated.
What about the DEI and Environmental impact of private jets ?
We charter private flights for T. No ownership. We have a certain number of flight hours prepaid.
Did we purchase a private jet? Or just like partial ownership?
Instead of Boeing CEO, it will be TIAA CEO. Jose got out before getting caught up https://youtube.com/shorts/irYOT0Nk-A8
So is T is cutting budgets everywhere to fund her and the Ecs private plane travels. Can’t they just join a private jet club instead. They make enough money to afford that with out making the worker bees suffer so they can try to be rich kids of Beverly Hills. Sorry you didn’t grow up in the 90210 and want to relive that off the back of the teacher who trust TIAA with their money.
This was changed just for T. Her costs are out of control.
Voted no on every name in my proxy vote along with the comp non binding resolution...won't have any impact but it's the only way to show your disapproval other than moving your money which isn't easy with some of the stickier investments
I'm glad T and her leaders are making it easy to spot all the lavish spending when financials are in the tank. TIAA is facing downgrades from rating agencies and the EC thinks is wise to take private charters. They are putting the safety and security of retirees at risk.
I wouldn't want my name anywhere close to this flight log. When the sh&t hits the fan soon, NY regulators are going to have a field day with this leadership team.
Wish the participants and everyone would rise up and against both boards. But sadly no one votes on those proxies and when they do it is never enough to do anything.
Need the SEC to come in and fix this dumpster fire of leadership with incompetent EVPs hiring their even less competent friends.
The participants need to rise up and push to recall both Boards. The only way this company can be saved
Gotta love T and her cronies she brought in. They get massive salaries and bonuses meanwhile none of us worker bees got a raise to account for cost of living increase let alone inflation and those small bonuses they praised as being so good.
Meanwhile we worker bees are literally DROWNING in debt but there is no one throwing us a life saver from above as they fly their private jets.
Asking me to contribute to a 401k or RHSP or whatever when we struggle to pay our bills. Going to have to use my credit card to get gas this week just to get to the office those 3 days, yet Sastry and others can be fully remote in random cities.
F the leadership of this company!
Rules for thee but NOT for me…
It’s about $6k/hour for a typical jet charter. Assuming 1.5 hours between cities for domestic travel that’s $36k in private jet fees excluding other travel costs (security, meals, car service, etc). That 36k buys A LOT of domestic first class tickets…
Outrageous given the context of the companies struggles.